A veteran Wells Fargo Advisors broker has formed his own RIA on the company’s new independent RIA channel.

David Mattern has launched Lawrence, Kan.-based Mattern Wealth Management, the company says in a press release.

He’s joined by financial advisors Kyle Cross and Marcus Mattern, according to the press release. The company didn’t disclose whether the Matterns are related.

David Mattern began his financial services industry career in 1999 with Edward Jones and joined Wells Fargo predecessor A. G. Edwards & Sons in 2001, transitioning to Wells Fargo in 2008, according to his BrokerCheck record.

Cross started his career in the industry in 2011 and came to Wells Fargo less than a year later, according to BrokerCheck. Marcus Mattern joined the industry in 2017, registering with Wells Fargo, according to his BrokerCheck profile.

"We have always believed in the fiduciary standard of care," David Mattern says in the press release. "It is what clients have always expected and what we have strived to provide. It was clear to us that becoming a fee-only [RIA], working only for the client, was the next logical step.”

Mattern will use Wells Fargo’s First Clearing for securities execution and brokerage clearance services and TradePMR, with which Wells Fargo has worked for two decades, for technology and custodial support, according to the press release.

Using Wells Fargo’s new RIA channel lets clients “seamlessly transition to our new independent firm with only a few signatures,” David Mattern says.

Wells Fargo announced in January that it would launch services to support its own as well as outside advisors who want to start independent RIAs, as reported.

In August, John Peluso, president of First Clearing, told the press the new RIA channel was on track to have 11 firms total in 2019. In September, two Wells Fargo Advisors brokers in Massachusetts launched their practice on the new channel.

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Wells Fargo had 13,723 advisors at the end of the third quarter, down from 13,799 in the second quarter, as reported. Since then, it lost an advisor to Ameriprise, a trio of brokers overseeing approximately $775 million to Raymond James & Associates, the firm’s employee advisor broker-dealer, and another team managing $380 million to Janney Montgomery Scott.